• Crypto merchants say the newest Litecoin rally may proceed for one more 40 days.
• The anticipated date for the subsequent Litecoin halving is July 26, 2023.
• Dealer predicts that the worth will break by $105.69 and climb above $190 earlier than halving.

The newest Litecoin rally may proceed for one more 40 days, in response to a cryptocurrency dealer with Twitter identification Bluntz (@Bluntz_Capital). Bluntz’s prediction stems from Litecoin’s historic worth conduct previous to the final two halving occasions.

Analytical information shared by Bluntz reveals that each instances, LTC worth made important positive aspects as much as round 50 days earlier than the halving occasion. Particularly in 2019, the worth soared over 300% earlier than beginning to pull again.

The Litecoin halving is a timed occasion within the Litecoin protocol that reduces the block reward earned by miners for verifying transactions on the Litecoin community. The occasion takes place each 4 years and the general reward is halved. The anticipated date for the subsequent Litecoin halving is July 26, 2023.

One other dealer with the Twitter identification “The Wolf” (@WolfOfPoloniex) was extra optimistic in his prediction of a serious Litecoin rally. In response to him, the celebration has solely simply begun.

The Wolf shared the screenshot of a chart evaluation the place he expects LTC worth to respect the rising trendline supporting its present development. He predicts that the worth will break by the LTC yearly excessive of $105.69 and climb above $190 earlier than the subsequent halving occasion.

Litecoin’s worth development has been sideways for many of 2023. An preliminary worth surge took the worth from $70.1 to a yearly excessive of $105.69 within the first quarter. Earlier than the tip of March 2023, LTC misplaced all positive aspects and registered a low of $65.39, in response to information from TradingView.

Since hitting the yearly low, the worth of LTC has moved between these two essential ranges, standing at $92.49 on the time of writing. Many members of the LTC group on Crypto Twitter agree with merchants’ predictions of a serious rally forward of the halving occasion, with a few of them sharing their impartial evaluation.

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